UPI payments now available for Indians in Uzbekistan
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New Delhi: Indian tourists, business travellers and students can now use the Unified Payments Interface (UPI) to make instant cross-border merchant payments in Uzbekistan by scanning the country's national interoperable QR code, UZQR, the Finance Ministry said on Monday.
NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI), entered into a commercial agreement with the National Interbank Processing Centre JSC (NIPC), which operates Uzbekistan's national payment system, HUMO, on August 30, the ministry said.
The agreement marks a significant step in expanding UPI's international footprint and enables Indian travellers to scan Uzbekistan's national interoperable UZQR code through their familiar UPI-enabled applications to make instant merchant payments across the country.
The announcement was made during Prime Minister Narendra Modi's bilateral visit to Uzbekistan.
The agreement follows formal approvals from financial regulators, including the Reserve Bank of India (RBI) and the Central Bank of Uzbekistan (CBU). The CBU has designated HUMO as NIPL's authorised partner for cross-border merchant acceptance.
By integrating with the CBU's mandated Unified National QR infrastructure, UPI users will gain near-universal acceptance across retail, hospitality and service merchants in Uzbekistan.
Indian tourists, business travellers and students can make direct person-to-merchant (P2M) payments from their Indian bank accounts, eliminating foreign exchange markup friction and reducing their reliance on international cards or cash.
The initiative is aimed at advancing cooperation in digital public infrastructure and aligns with the broader strategic and economic objectives of both countries.
The Maldives became the ninth country last month to announce the successful go-live of the integration between the Maldives Instant Payment System, 'Favara', and India's UPI.
The new service enables individuals in the Maldives to transfer funds in real time through Favara to beneficiaries in India. Transactions are initiated in Maldivian Rufiyaa (MVR) and credited to recipients in Indian Rupees (INR) through UPI.
UPI is now accepted in 10 countries, including Singapore, the United Arab Emirates, France, Mauritius, Nepal, Bhutan, Qatar, Sri Lanka, Cambodia and Greece, enabling Indian travellers to make seamless payments abroad, the statement added.
With IANS inputs